The Apartment Search: When to Recruit a Real Estate Broker

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Time is of the essence, so you've got two options in this scenario: Take the first opportunity that comes along (meaning mediocre, and probably for a rent higher than what you wanted to pay); or call a real estate broker. Many renters have never considered going this route, although many brokers don't even charge you for the privilege of using their knowledge and their services. And by the way, if any broker requires that you pay him up front, check his reputation. If he's well-respected in the business, then it's probably worth the financial risk. If nobody's heard of him, go elsewhere, and find someone who receives his commission from the landlords with whom he conducts business.

Leah and Elina Furman, Chicago-based authors of "The Everything After College Book," advise renters to be prepared before using the services of any real estate broker. Some suggested tips:

Write down what you consider to be your "must haves" before you meet with any broker. Include the desired location (make it specific if you can), the amount of rent you wish to pay within a range, square footage, desired parking layout, security system, washer or dryer, pets or no pets, and any other amenity about which you feel adamant. Let the broker do the homework of finding those properties that match your criteria. Once the broker gets back to you with a list, ask that he fax you all of those listings, along with photos when available. Then narrow down your list, so that you'll save time both for yourself and for your broker.

The Furmans strongly recommend using the services of more than one broker. See how many listings each broker provides you, and consider to what extent they respect your desired criteria. For example, some brokers may try to talk you into paying higher rent for a not-so-wonderful apartment. While most brokers are extremely helpful and consider their clients' preferences and budgetary constraints to be sacred, you'd be well-advised to watch out for the common tactics of the lemons out there. The authors list a few:

• Telling you that other parties are interested in the apartment you're taking your time to consider. (If this were true, would the broker have shown you the apartment in the first place?)
  
• Becoming annoyed if you turn down an apartment, or trying to give you a guilt trip for wasting their time. Remember that you're simply following the broker's referrals; if he'd found better options for you, than your time wouldn't be wasted.
  
• The sayings "You get what you pay for," or "But it's worth it," don't really matter if you still can't afford it.
  
• Here's an interesting tactic: Your broker leads you first to a pricey apartment far out of your price range. While you dream about such a lifestyle, you could never afford or even consider such a residence. The broker then brings you to a much cheaper apartment. Why such disparity between the two choices? The second apartment leaves you so relieved after the sticker shock of the first choice that the words "I'll take it" spill out of your mouth almost by reflex. You sign a lease, and they've got your business after only two showings. Easy, huh?

  Arm yourself with information; it's your best defense. And so is a referral -- from a friend or co-worker. Do a little comparison shopping, then sit back and let those brokers do the legwork -- so you can stick to the mindwork involved in relocating to a new city for a new position.